All Forum Posts by: Matthew Cook

@Andrea Cole I’ve really enjoyed the show as well, but I agree. It’s purpose is to inspire and build the popular idea of STRs while leaving out a lot of the financial realities. They do a nice breakdown of local statistics on amount of STRs and general profit, but they never detail what the owners are spending on their remodels. These remodels are also not surface level. Depending on the house/show these remodels were probably $15k-$90k. That really eats into profit for multiple years. It’s a fun show though.

Chris Lopez I see what you are saying. Thanks again for the incite.

Thank you everyone for the valuable comments. @Chris Lopez I think you make some valuable points. I just have a really hard time seeing my current home appreciating a lot more. We bought in 2016 for $265k, right now without a new appraisal the home is valued from the bank at $365k. We've put in a lot of sweat equity so we are hopping to sell for closer to $399-$415k. Is it even foreseeable that this home in Westminster(suburb of Denver) could appreciate much more than that to say$499k making it worth holding onto and renting.? To me that seems insane because I know the market is hot, but these homes are not worth these prices. (IF) I sold for $399k, I get my VA loan back to buy our next family home with, and I get $135k to play with in the single or multifamily arena in the midwest. It's definitely a toss up because I want to have a solid long term portfolio, but that cash at the beginning of my investing career will really give me some leverage and options.

Anyone have any go to stores/suppliers for kitchen backsplash and cabinet hardware other than HD or Lowe’s? Quality materials low prices, send me your suggestions. Thanks a ton!

Thank you @Phillip Bicker @Seth Wilcock for your advice. I think our plan now is to tie up the loose ends and some modest updates on our home and sell it next spring. I really like the idea of finding a multi-family unit in Cincinnati, Columbus, or Cleveland where the math makes more sense. Seth, I agree that using the VA loan for a 4-plex would expedite the process, my family and wife are looking for our next 10ish year home to plant ourself in so I think the VA loan will have to go towards that since we are looking in Arvada, Erie, or Loveland at the $500k range. We plan on using the equity from the sale for our investment and rehab though. I wonder if the springs or Greeley has any decent multi family deals?

Hello Everyone, I'm looking for some advice. I'm a new Investor looking to get into the game. I've been researching and educating myself for a couple years while saving, paying down debt, and getting in a good position to be an Invester. I have two current routes for entry that I considering. My wife and I bought a house in 2015 in Denver-metro suburbs for $269k. Through forced appreciation and market appreciation we could sell it right now for between $375-399k. If we sold, I would get access to my VA loan again where we could buy a new home that better fits my family's needs in the $550k range. With the sale we could potentially make $100k which I don't have to put into the new purchase because of VA loan, and I could potentially buy, Reno, hold, and rent 2 properties in a market like Columbus, OH. Final assests could be worth $150k each? OR, we keep our CO home, rent it out for around $22oo/month, and buy our new home with refinance plus a separate down payment. Our long term goal is to buy and hold/rent so our first asset is already worth $400k. Not sure about what route to take and would love advice.